JEEA-FBBVA Lecture 2018: The Microeconomic Foundations of Aggregate Production Functions
JEEA-FBBVA Lecture 2018: The Microeconomic Foundations of Aggregate Production Functions
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JEEA-FBBVA 讲座 2018：总生产函数的微观经济基础
DOI：
10.1093/jeea/jvz050
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发表时间：
2019
影响因子：
3.6
通讯作者：
E. Farhi
中科院分区：
文献类型：
--
作者：
D. Baqaee;E. Farhi
总量生产函数是一种简化形式的关系，它内生于一般均衡中异质生产者和要素之间的投入产出相互作用。我们提供了一个一般的方法来分析这样的总生产函数，推导出他们的第一和第二阶属性。我们的聚合公式提供了非参数表征的宏观弹性的替代因素和技术变化的宏观偏差的微观统计。它们使我们能够推广现有的聚合定理，并推导出新的。我们将我们的研究结果与著名的剑桥剑桥之争。
Aggregate production functions are reduced-form relationships that emerge endogenously from input–output interactions between heterogeneous producers and factors in general equilibrium. We provide a general methodology for analyzing such aggregate production functions by deriving their first- and second-order properties. Our aggregation formulas provide nonparametric characterizations of the macroelasticities of substitution between factors and of the macrobias of technical change in terms of microsufficient statistics. They allow us to generalize existing aggregation theorems and to derive new ones. We relate our results to the famous Cambridge–Cambridge controversy.